Small Businesses in Guam to Benefit from U.S. EDA Investment
August 4, 2010
Contact: Lindsey Pangretic, (202) 482-4085
WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $150,000 grant to the University of Guam of Mangilao, Guam, to prepare a strategic plan for the revitalization of commercial and entrepreneurial activity in Downtown Hagåtña.
"Innovation and entrepreneurship are key to creating long-term economic stability and jobs," said U.S. Assistant Secretary of Commerce for Economic Development John R. Fernandez. "This EDA grant will develop a long-term coordinated and collaborative approach for redevelopment of the capital village of Hagatna and the other villages on Guam to support sustainable entrepreneurial and cultural activities."
"The comprehensive plan will enable existing small businesses to increase market development and product development potential, as well as generate new start-up small businesses who will capitalize on proposed economic activities," said Anita Borja Enriquez, Dean, School of Business and Public Administration, University of Guam.
About the U.S. Economic Development Administration (www.eda.gov): This year, the U.S. Economic Development Administration (EDA) marks 45 years of public service, with a mission of leading the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy. EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster job creation, collaboration and innovation.